best crypto venture for beginers

[ZaraCB]

Even as a newbie the first thing I did was to get a wallet and having my private keys saved in a safe place, after that I bought some Bitcoin and hold it in my wallet. I may consider going into trading later on but not now so I will continue holding my Bitcoin in my wallet.

Bitcoin value is volatile. Since you hold Bitcoin, you must notice its price up and down. You need to know when to sell or trade it. Otherwise you will lose. Bitcoin price have risen a lot now. It is a little difficult to get profit by buying and holding bitcoin at this extra price. Now you should have earn enough knowledge about crypto market, trade, trade signal.

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[RILWAN]

Even as a newbie the first thing I did was to get a wallet and having my private keys saved in a safe place, after that I bought some Bitcoin and hold it in my wallet. I may consider going into trading later on but not now so I will continue holding my Bitcoin in my wallet.

bitcoin holding is one of the low-risk venture in bitcoin as you don’t need to do anything just buy and hold, but you must be ready to take whatever action that comes from the market because of bitcoin volatile nature.

I engage myself in some trading after I have to learn some trading skills which at this moment are yielding some great profits for me.

[TheNineClub]

I'd suggest spending a year on the forum, watching videos and reading the literature to educate themselvs. A bit extreme? Yes, but with every cycle we get and an influx of newcomers that get into this because it's the hype and want to get rich fast. I'm sorry to say but without adequate knowledge, there is no long-term happiness in this field.

[AakZaki]

I'd suggest spending a year on the forum, watching videos and reading the literature to educate themselvs. A bit extreme? Yes, but with every cycle we get and an influx of newcomers that get into this because it's the hype and want to get rich fast. I'm sorry to say but without adequate knowledge, there is no long-term happiness in this field.

For the set time issue you mentioned, just a year spent on that forum won't be a guarantee, as most newbies nowadays won't spend that much time. those who want to earn fast money in crypto will not stay on this forum. This cycle is always going on, newbie brands start to enter because of the hype and will come out fruitlessly when they are not able to survive and without sufficient knowledge.

[decodx]

OP, the problem is that there is no one-size-fits-all solution. Each of us finds his own niche and does what best suits him.
In my opinion, Pmalek gave you perhaps the best advice, investing in and holding one of the most popular cryptocurrencies will be your best option. Later on, as you learn more about the other options, you may decide to invest a smaller amount of the funds in the riskier ventures.

[Wiwo]

I will gladly buy and keep holding Bitcoin on a long-term basis to accumulate good profits since am not too skilled in other crypto ventures. Most of the cryptocurrency venture involves high risk which most newbies may not be able to manage.

[Pmalek]

In my opinion, Pmalek gave you perhaps the best advice, investing in and holding one of the most popular cryptocurrencies will be your best option. Later on, as you learn more about the other options, you may decide to invest a smaller amount of the funds in the riskier ventures.

One thing that I have noticed with some people new to crypto is that they have this wrong assumption that they missed out making huge profits with Bitcoin. So they are now seeking for the next best thing that will make them those x100 or x1000 gains. That's wrong from the start. What makes you think you will be able to identify the next winner in a sea of crap? Some investors will surely get lucky after having placed some money in such a venture, but for the majority, it's just a dream. You are much safer sticking with the things that work rather than trying to pick from those who promise that they will work.

[yagamitaichi]

I created this thread for discussion and suggestions.

Haven’t experience over the years the challenges faced by newcomers in understanding what it entails in cryptocurrency ventures such as trading, mining, staking and defi farming, with so many newcomers not really understanding of what it takes to venture into this different cryptocurrency aspect that maximize it full potentials. many newbies end up losing their resources in the curse of these activities because of lack of knowledge because of greed and quest to get rich quick through cryptocurrency without knowing the risk involved.

what are your suggestion and guides for new investors in our midst?

It is better to first learn about cryptocurrencies along with the risks that will occur if you make the wrong decision. Because the cryptocurrency market is changing all the time. Therefore, as a newbie, you must know about trading. Don't be tempted by the lure of big profits. Because it's about money. If you make the wrong decision you will lose your assets and money. So you have to be more patient to get big profits. And don't be shy about asking seniors who know more about cryptocurrencies and trading.

[traderethereum]

Only buy a coin with the money you can afford and not try to add more money if you can not make a profit because maybe that is just a delay for you.
You do not have to buy many coins if you do not know how to analyze each coin. You can buy bitcoin and hold it because I think that can be enough for you to make a profit in the future.
Even if you want to buy altcoin, make sure you only buy the coin that will potentially increase in the future, such as ethereum, bnb, and other tops 50 coins, but you should search for more info about why you will select that coin.
When you want to invest, you will hold the coin for some periods, so you do not have to worry if the price fluctuates and not sell if the price is down instead of buying more amount if you are okay to use more money from your budget.
Otherwise, you could only hold it until the price is back increase and then sell it.

[Anguwa]

It's very simple. Buy Bitcoin for an amount you can afford to lose. Send it to a non-custodial and open source wallet that is properly backed up and leave it there.
  
- Forget about trading if you are a newbie and you don't have trading experience. You need to know how to read the charts, recognize the trends, and be able to predict what will happen next.
- Bitcoin mining requires investing in expensive hardware and unless you join a mining pool, you aren't going to generate profits solo mining. It's an expensive venture unless you have some capital to begin with.
- I have nothing against staking, but it involves transferring the ownership of your coins to someone else. Those sites or platforms could experience hacks, exit scams, or have serious bugs which could cause you to lose your coins. All of these scenarios have happened many times.
- DeFi platforms have had various exit scams and vulnerabilities as well. It's also quite expensive communicating and moving your tokens across various smart contracts.

Start with the basics. Buy and hold.  

This is one of the most expensive advice I had receive, I was wondering where to start from and how to go about cryptocurrency. If I think about trading, it takes some time and I have to go and learn more about trading to avoid falling victim on scam or loosing the entire aset due to ignorance, but this forum has it all, as all the basic ideas needed were provided by the senior colleques in the forum. I hope new commers like myself will take note and start from the basic, then proceed by learning all it entails.

[Ecg007]

My own point of view for the newbies is that,for one a starter who has no much knowledge on the blockchain industry should firstly has to go a thourough research to gain more ideas and also to know more about when the changes of price in thr marketcap when the price is going up or coming down so as not to have a gross loss.

However,for newbies if one is to be advice on investing in any coin I think it should be the shitcoin for the reason that they won't spend much or have a reason to say that they had gross loss base on the fact that they are not so knowledgeable about the coin market to know when a coin is to do well or grow or know a good smart contract to invest on,by that one will have the chance to invest a little so as to have a try and see if there instincts were right of the said coin base on their research they made which if the particular project or coin grows then they will be motivated or have the courage to invest more on it.

[RILWAN]

Thank you all for your comments. I have learned a lot from this thread and it has achieved its purpose, so am locking the thread to avoid future spam. As a newbie, one needs adequate knowledge before venturing into any cryptocurrency-related activities to avoid losses.